US$ recovers: By Mary McNamara

The US$ is higher following comments from the new US Chief Economic adviser that he he was ok with a stronger dollar. This shift has triggered a few trend line breakouts with the commodity currencies being hit the hardest.

USDX daily: watch for any sustained recovery here.

Trend line breakouts and TC signals:

EUR/USD: there has been a small trend line breakout here but a TC signal prior to this offered a low risk set up that gave a great return on risk (R):

EUR/USD 4hr: before and after views of this breakout:

EUR/USD 15 min: a TC signal here for 70 pips that was a low risk set up and gave 7 R:

AUD/USD: no new trend line breakout but a decent enough drop and new TC signal during the US session that gave up to 2 R:

AUD/USD 4hr:

AUD/USD 15 min: a decent signal for 2 R during the US session on the back of renewed weakness:

AUD/JPY: a trend line breakout and new TC signal here:

AUD/JPY 4hr: 70 pips:

AUD/JPY 15 min: a 90 pip move with this TC signal worth 3.5 R:

EUR/JPY 4hr: weakness here but not going too far just yet:

Gold 4hr: weakness here too but, like with the EUR/JPY, not going too far just yet:

NZD/USD 4hr: weaker here but watch the monthly 200 EMA for any new make or break:

Other Forex:

GBP/USD 4hr: still consolidating:

USD/JPY 4hr: ditto:

GBP/JPY 4hr: a bit weaker but hardly convincing just yet:

GBP/NZD 4hr: worth watching a  bit more closely:

Oil 4hr: ditto:

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